New to crypto- have a question

So I've recently acquired a decent amount of gold (finally).

I see most buyers use bitcoin. So I signed up for coinbase. Verified my card and have an address.

When I sell to the buyer I assume I just give them my long random address (does this ever change? Is it safe to share to multiple people?)

Once I trade over the gold how do I know that currency is mine and can't be taken or charged back? ( I've read stuff about people getting screwed from something called double spending?)

Also once that crypto currency is sent to me how long till I can get it to my
Bank and Start spending it?

I hope someone can enlighten me a little bit on this and I hope I posted this in the proper section. Thanks

 

Yep, give them your address. it should look something like: 16U7dBLuSvSyb7Gii3inUznR2y5DySwx6c
You're safe to share this with multiple people, all they can do is look up your balance, transactions etc. You can also generate new addresses.
You should be fine as long as the btc is in your wallet.
You can sell the btc straight for fiat and spend it right away. I've only ever used localbitcoins where you sell peer to peer.

 

Thanks for the response. What is fiat though? Am I mistaken thatonce the funds are in my wallet I can transfer it for dollars to my bank?

 

Fiat is like USD/GBP etc
After selling the btc for USD, yeah you can withdraw.

 

Awesome tyvm. Gonna probably give it a try tonight

 

Wait for 1 confirmation on trades you do to be safe of almost all chargebacks. On real big trades ($10.000+) wait for 3 confirmations to be even more safe.

 

This is also a good discord group that will help you out start trading crypto
https://discord.gg/VBZJEfG

 

I would be cautious, history suggests there will be a market crash in January, all the way back to 2014 the market has slumped nearly 20-40% each January for whatever reason.

Be wary u don't get caught in the crash when it comes.

 

Easily a different ballgame this time round imo. Also, the markets would most likely have corrected by now (game theory - people sell before they think it will crash).

But yes, at any point, still always be cautious and don't invest what you can't afford to lose.